The ____________ requires expenses to be recorded in the same time period as revenue.
a. revenue recognition principle
b. matching principle
c. accrual principle
d. none of the answers listed
Question 2
After preparing the work sheet, adjusting entries must be recorded in the __________ and then posted to the ______________.
a. general journal, general ledger
b. trial balance, financial statements
c. general journal, financial statements
d. none of the answers listed